Skip to main content

About your Search

20130318
20130326
Search Results 0 to 9 of about 10 (some duplicates have been removed)
not have to go through all this fanfare to reaffirm his relationship with the israeli government. he said this is all about reaching out to the israeli public. every stock has been very carefully choreographed by the american and israeli planners. and so far, not a single flat has been put wrong by the american leader. -- not a single foot has been put run by the american leader. he has maintained that the relationship between the u.s. and israel is an unbreakable and that the relationship that has been strained in the past with mr. netanyahu is very strong, and working very well. that was the message from the press conference tonight. the body language talked about a very close working relationship, a lot of for the exchanges between the two leaders. and when they got down to business, they mention this same three issues, iran, syria, and making peace with the palestinians. except that mr. netanyahu started without -- started with iran and mr. obama ended with it. let's listen to what mr. obama had to say. >> notwithstanding our efforts and success in mobilizing the international communi
gathered outside in nicosia, but it does lead the government looking urgently for an alternative. we are following every twist and turn. the cyprian parliament has rejected this e you deal, but what are their options now -- the supreme it -- supremecypriot parliament.iot >> that is the question. there will be a lot of frantic negotiations and frantic talks going on between cyprus and brussels to try to come up with a credible alternative. tomorrow at 9:00 in the morning local time, political party leaders will convene with the president to try to come up with a credible alternative, a plan b. there has been a very clear message sent from cyprus to brussels, and it is this -- the bailout, the whole deal has had severe miscalculations. if anything comes back to a plan b, a to have to be radically different. >> i remember speaking to german officials, and they kind of shrugged off the idea that cypress, of all european countries, could cause a problem, but that is exactly what it is doing. and at exactly. this is the third smallest member of the eurozone, the third smallest economy in t
. the next few hours will determine the future of the country, said the government spokesman. in the meantime, with the banks closed this is a country in waiting. midday, the main shopping street here almost deserted. >> it is empty. this is one of the busy high streets. it's deserted. it's unbelievable. >> at the cash machines of a troubled bank, withdrawals are limited to 260 euros a day. >> they're afraid maybe next week -- this is our [inaudible] >> in the supermarket, there's evidence of a cash economy expanding. >> we have suppliers demanding cash. not all of them but some are in a panic situation and are demanding cash payments. >> so everyone is waiting to see whether the government can strike a deal with the e.u. by the deadline of monday and save the country from bankruptcy. the challenge for cyprus and its parliament is how to raise nearly $6 billion and so qualify for a full zureo -- eurozone bailout. the problem is there is tension between cyprus and germany. only today angela merkel was warning that patience has its limits. banking would be restructured with smaller bank account
out. now the government says all banks will be closed till thursday as it negotiates the terms of this deal. gavin hewitt starts our coverage. >> hurt, anger, outrage -- that was the mood on the streets of the cypriot capital. in exchange for european bailout, small and large savers will have to pay a one-off tax. >> we are sleeping. we all come in the morning, knowing that we were significant -- >> as a nation, it has taken us 40 years to build our economy to the level it is. with done one day -- within one day, we have shot it down. we are very betrayed. >> they can do it anywhere. live in europe, europe has betrayed us. >> at one stage, the crowd was urged to march towards the presidential palace. many people believed their savings had been guaranteed. what is clear is that the bailout deal negotiated in brussels cannot be implemented here except in the face of furious opposition. will have depositors to pay -- just reducing the amounts savers and depositors will have to pay probably won't be enough. teeple are still trying to get their money out of cash machines, but there
are in a panic situation and are demanding cash payments. >> so everyone is waiting to see whether the government can strike a deal with the e.u. by the deadline of monday and save the country from bankruptcy. the challenge for cyprus and its parliament is how to raise nearly $6 billion and so qualify for a full zureo -- eurozone bailout. the problem is there is tension between cyprus and germany. only today angela merkel was warning that patience has its limits. banking would be restructured with smaller bank accounts protected but larger accounts possibly taking steep losses and there might still be a tax on savings. it was rejected once but might be applied to big deposits. every move is controversial. these bank statue were blocking the roads today. they fear restructuring the banks will lead to layoffs. >> they fear they won't have a job. what do you think will happen? >> whatever is decided here will still have to win the approval of the eurozone and the i.m.f. in order for cyprus to receive a bailout. >> and the reports coming in tonight do suggest that as part of the new plan being debite
. >> well-received by the enthusiastic young audience, it will not go well with the center-right government. againstler, so opening the creation of a palestinian state. this was an overwhelmingly pro- is really speech, barack obama logging its achievements, condemning the enemies, but the message came in the middle. there has to be peace in the region and that cannot happen without the independent viable palestinian state. no israeli border big enough, no missile system, and occupation is not the answer. ironically, barack obama seemed less engaged and less preoccupied with the moribund speech process when he met palestinian leaders earlier today in ramallah. they, too, have a responsibility, the president told them, and have to be prepared to make sacrifices. this visit has largely been about barack obama reconnecting with israel and working with leaders. but he has also shown he is prepared to invest more time and effort into achieving be unachievable. achieving be unachievable. >> there was one phrase that barack obama used again and again, telling israeli leaders the same phrase, tellin
. the government feared it might not win a majority for the bailout. without extra funding, cyprus faces bankruptcy. the british community around -- the british community, around 60,000, is also assessing its losses. cypriot friends are in shock. >> they felt as though someone had put their hand in their pocket and taken their money without letting them know what was going on. >> others speak of a breach of trust. >> people are going to take their money out of the eurozone in general the guys they don't trust them -- because they don't trust them. >> they have been reducing the amount -- they have been discussing reduce the amount that small savers will have to pay. the crisis is threatening the eurozone. >> reports coming in from europe suggest the eu may have changed the deal, to allow people with deposits of less than 100,000 euros to get off that tax. i spoke a short time ago with former u.s. treasury secretary tim -- larry suckers -- i spoke a short time ago with former u.s. treasury secretary larry summers. >> it changed the world. sarah gave a was a small place -- sarajevo was a small place.
or 13 years they're spending -- their spending by the government's gone berserk. it's almost tripled since the year 2000. while government revenues went up nicely in cyprus, the government spended and spent some more and we've seen that in southern europe and elsewhere and now the piper has to be paid . >> mr. forbes, given the differences you've pointed out between the economies and the attitudes of germans and german favors and those of southern europeans, do you think it would be bet father cyprus had just left the -- would be better if cyprus had just left the euro one right now? >> there's no reason why it couldn't fit together if these things were treated as a credit die sis from the very beginning -- crisis from the very beginning. in my country, for example, it won't happen, but let's say the state of illinois, which is an economic disaster disically, defaulted on its bonds, it wouldn't leave the dollar zone, it's a credit problem. that's what this should have been treated as in the beginning. figure out how you deal with the banks that are in trouble, stop piling on new taxe
Search Results 0 to 9 of about 10 (some duplicates have been removed)